Non-constant Discounting in Continuous Time
نویسندگان
چکیده
منابع مشابه
Non-constant discounting in continuous time
This paper derives the dynamic programming equation (DPE) to a differentiable Markov Perfect equilibrium in a problem with non-constant discounting and general functional forms. Beginning with a discrete stage model and taking the limit as the length of the stage goes to 0 leads to the DPE corresponding to the continuous time problem. The note discusses the multiplicity of equilibria under non-...
متن کاملClimate policies with non-constant discounting
We consider the climate-policy implications of non-constant time preferences when there is no commitment to future policies. The conceptual and quantitative results follow from the observation that, with time-declining discounting, the unusual delays and persistence of climate impacts provide a commitment device for climate policy-makers, overturning a fundamental climate-policy conclusion from...
متن کاملAn extension of quasi-hyperbolic discounting to continuous time
Article history: Received 6 September 2013 Available online 8 December 2014 JEL classification: D74 D90
متن کاملConstant Space and Non-Constant Time in Distributed Computing
While the relationship of time and space is an established topic in traditional centralised complexity theory, this is not the case in distributed computing. We aim to remedy this by studying the time and space complexity of algorithms in a weak message-passing model of distributed computing. While a constant number of communication rounds implies a constant number of states visited during the ...
متن کاملDiscounting in Time
This paper deals with the issue of discounting in weighted timed transition systems. Discounting provides a way to model optimal-cost problems for infinite runs and has applications in optimal scheduling and other areas. We show that when postulating a certain natural additivity property for the discounted weights of runs, there is essentially only one possible way to introduce a discounting se...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2004
ISSN: 1556-5068
DOI: 10.2139/ssrn.484463